US dollar strength mimics 2020 Coronavirus crash — 5 things to know in Bitcoi...
USD runs the show behind the scenes as the Easter weekend sparks pain for Bitcoin bulls. Bitcoin (BTC) starts a new week with all quiet on traditional markets but a storm brewing in crypto.As the Easter long weekend continues for the United States and much of Europe, traders are keenly eyeing whether Bitcoin can stay stable for four days without professional investor involvement.So far, the picture has not favored bulls — since Good Friday, BTC/USD has been characterized by sideways action punctuated by episodes of sudden volatility to the downside.That continued overnight into Monday, and....
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The money printer is going brrr in the United States. Bitcoin (BTC) may get a boost to finally clear $40,000 at the expense of the U.S. dollar as United States President Joe Biden's new $6 trillion federal spending budget proposal is unveiled.On May 28, the United States president will announce the massive fiscal policy, the largest since the Second World War, to ensure investments in major infrastructure, education and healthcare projects, reported The New York Times on May 27. Biden reportedly wants the federal government to spend $6 trillion in 2022. He also plans to raise the total....
Crunch time in the U.S. comes as coronavirus sparks more lockdowns and money printing plans in Europe. Bitcoin (BTC) starts a new week and month just dollars away from its highest monthly close in history — what’s in store next?Cointelegraph takes a look at five price factors which may influence BTC/USD as the U.S. goes to the polls and coronavirus sparks new Europe-wide lockdowns.Election day looms for Trump vs. BidenThis week contains a geopolitical event which traditionally plays havoc with markets: the U.S. presidential election.Coming at a time when coronavirus angers and restricts....
It is safe to assume that Bitcoin’s parabolic rally in 2020 has everything to do with the underperformance of its arch-nemesis, the US dollar. The charts tell the entire story. In March 2020, a 60 percent crash in the Bitcoin market coincided with an 8.80 percent jump in the US dollar index, a barometer to […]
A classic dichotomy between hodlers and leveraged traders sets this week’s Bitcoin price dip apart from the coronavirus crash of March 2020. Bitcoin (BTC) crashed by $9,000 in hours on Tuesday thanks to a mass unwinding of leveraged traders and borrowers, one analyst believes.In a series of tweets on Wednesday, Willy Woo sought to get to the bottom of what made BTC/USD dive to lows of $42,800 on Tuesday.Woo: Bitcoin margin borrowers and open interest may be to blameWith rumors flying over who was behind Bitcoin’s major price dip, analysts have been crunching data in order to understand....
It could still go either way for Bitcoin price action, but one analyst believes Bitcoin is already coming out on top versus equities. Bitcoin (BTC) may continue its “bear market,” one trader says amid hope that a U.S. dollar reversal could soon improve BTC price action.In his latest YouTube update on May 2, Cointelegraph contributor Michaël van de Poppe argued that USD’s current surge would not last long.Dollar strength reversal "close"Bitcoin is still under pressure as stocks and crypto alike face the reality of a major policy flip from the U.S. Federal Reserve. Due to be announced this....